Chevron Achieves First LNG Production at Wheatstone
October 08 2017 - 7:30PM
Business Wire
Chevron Corporation (NYSE:CVX) today announced it has started
producing liquefied natural gas (LNG) at the Wheatstone Project in
Western Australia. The first cargo is on track to be shipped in the
coming weeks.
“First LNG production is a significant milestone and is a credit
to our partners, contractors and the many thousands of people who
collaborated to deliver this legacy asset,” said Chevron Chairman
and CEO John Watson. “Wheatstone adds to our legacy gas position in
Australia that will be a significant cash generator for decades to
come.”
At full capacity, the Wheatstone Project’s two train LNG
facility will supply 8.9 million metric tons per year of LNG for
export to customers in Asia. The LNG facility is located 7.5 miles
(12 kilometers) west of Onslow and processes natural gas from the
Chevron-operated Wheatstone and Iago fields.
The Chevron-operated Wheatstone LNG facility is a joint venture
between Australian subsidiaries of Chevron (64.14 percent), Kuwait
Foreign Petroleum Exploration Company (KUFPEC) (13.4 percent),
Woodside Petroleum Limited (13 percent), and Kyushu Electric Power
Company (1.46 percent), together with PE Wheatstone Pty Ltd, part
owned by JERA (8 percent). Chevron holds an 80.2 percent interest
in the offshore licenses containing the Wheatstone and Iago
fields.
Chevron Corporation is one of the world's leading integrated
energy companies. Through its subsidiaries that conduct business
worldwide, the company is involved in virtually every facet of the
energy industry. Chevron explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and lubricants; manufactures and sells
petrochemicals and additives; generates power; and develops and
deploys technologies that enhance business value in every aspect of
the company's operations. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.
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Chevron’s 2016 Annual Report on Form 10-K. Other unpredictable or
unknown factors not discussed in this press release could also have
material adverse effects on forward-looking statements.
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